MAM
WPP to make tender offer for digital marketing co Syzygy.
MUMBAI: WPP, which currently holds shares representing just below 30 per cent of the issued share capital in Syzygy AG, is planning to make a tender offer for the digital marketing firm.
WPP has been a long term investor in Syzygy AG and continues to believe in the future of Syzygy AG. With this tender offer, WPP’s management is keen to help the company expand and to work with WPP’s major clients in Germany and internationally.
“This would be easier if the Group had a greater ownership. WPP would also like to capitalize on Syzygy AG’s strong relationships with leading German multinationals and local companies,” the company said.
WPP believes that its existing facilities can provide Syzygy AG with offshore capabilities in low cost locations, which are becoming increasingly important in providing the effective and efficient solutions needed by clients.
“All of these goals will be supported by a larger or potential majority shareholding,” WPP said.
According to the company, Syzygy’s current valuation is at an advantageous level for share owners but is based on very low average daily volumes. The WPP offer will provide the market liquidity for share owners who wish to take advantage of the current price by tendering their shares.
MAM
Dish TV shareholders approve three independent directors
99.49 per cent vote of confidence strengthens board as company expands into connected TV, e-commerce and OTT.
MUMBAI: Dish TV has just been served a near-perfect vote of confidence and the shareholders have dished it out in style. Shareholders of the DTH operator have approved the appointment of three new Independent Directors with an overwhelming 99.49 per cent approval. The three appointees are Mr Arun Kumar Kapoor, Ms Heena Naishadh Bhatt and Mr Ashok Anant Paranjpe.
The strong mandate reflects continued investor faith in the company’s strategy, disciplined execution and long-term value creation. It comes as Dish TV focuses on stabilising its core DTH business while actively scaling new verticals connected TV platform VZY, B2B e-commerce ShopZop, and OTT service Watcho to build a more diversified and resilient growth trajectory.
Dish TV India Limited, CEO & executive director Manoj Dhobhal said, “We are encouraged by the shareholders’ approval of the appointment of the Independent Directors and sincerely thank them for their continued trust and confidence. The Board is already benefiting from the Directors’ collective experience, which will further sharpen strategic focus and support disciplined execution.”
With a fresh, strengthened board in place, Dish TV is well positioned to navigate the evolving media landscape. In a sector where every percentage point matters, a 99.49 per cent thumbs-up is the kind of ringing endorsement that suggests the company’s recipe for the future is already tasting right.
